Cardinal Development Company

What Cardinal Development Company does

Cardinal Development Company is a privately-held California corporation founded in 1986 by four Stanford alumni, headquartered at 2925 Bristol Street in Costa Mesa, California. The firm specializes in real estate development, leasing, tenant improvement construction, and full-service asset and property management, with a primary focus on self-storage facilities (operated under the Extra Storage trademark as a chain of 12 facilities) and industrial properties across Southern California — including Los Angeles, Riverside, and Orange County. Cardinal owns or manages 30 commercial properties and more than 1.2 million square feet of commercial space, with co-owner David J. Seidner overseeing over $125,000,000 of investment real estate primarily in the industrial and self-storage product types.

The company's revenue mechanics span four streams: recurring property and asset management fees on managed commercial and self-storage assets; leasing and brokerage commissions on multi-tenant and single-tenant industrial and storage properties; one-time revenue from development and sale of industrial buildings, self-storage facilities, and entitled residential lots (273 lots have been entitled and sold across Atherton, Redhawk Golf Course, and Temecula); and transaction-based opportunity lending, with more than $10,000,000 in loans serviced over the prior five years. Go-to-market is relationship-driven and regional — Cardinal targets value-added opportunities through direct engagement with property owners, investors, and corporate tenants, leveraging its established banking relationship with First Republic Bank to internally finance equity requirements.

Leadership has been stable since the mid-1990s transition: Scott C. Rimland (President since 1995, California Real Estate Broker since 1991) and David J. Seidner (Principal, joined late 1990s, USC Master of Real Estate Development) co-own and operate the firm with a lean team of fewer than 10 employees covering property management, accounting, and project management functions. Cardinal's competitive positioning rests on hands-on owner-level management, integrated development/management/leasing capabilities, regional market knowledge, and banking relationships rather than technology or scale advantages.

Name

Cardinal Development Company

Legal name

Cardinal Development Company

Website

https://www.cardinaldevelopment.com/

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

1–10 employees

Short description

Cardinal Development Company specializes in leasing, tenant improvement construction, accounting, asset, and property management services.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development and Management

NAICS

Lessors of Miniwarehouses and Self-Storage Units (53113), Nonresidential Building Construction (2362), Management of Companies and Enterprises (55111)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Operators (No Developers) & Lessors (6510), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Self-Storage Property Management (BPAJAGAM)

akta.pro secondary industries

Self-Storage Facility Management & Operations (Third-Party Managed) (HSAKAGAI), Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

Keywords

• Commercial real estate development
• Property management services
• Self-storage facilities
• Industrial real estate leasing
• Real estate brokerage services

Headquarters

HQ city

Costa Mesa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Property Management and Asset Management Fees: Full-service property management and asset management for self-storage facilities and industrial properties. Cardinal manages over 1.2 million square feet of commercial property and owns/manages 30 commercial properties and 12 storage businesses.
2. Industrial and Commercial Property Leasing: Leasing and brokerage services for multi-tenant and single-tenant industrial properties and self-storage facilities. The company operates and leases commercial holdings across Southern California.
3. Property Development and Sales: Development and sale of industrial buildings, self-storage facilities, and residential lots. Includes build-to-suit projects, spec buildings for sale, and entitled residential land parcels sold to developers.
4. Opportunity Lending: Short-term lending services where Cardinal acts as an opportunity lender. Has serviced more than $10,000,000 worth of loans over the previous five years.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Cardinal Development Company develops, owns, and operates self-storage facilities (Extra Storage brand) and multi-tenant and single-tenant industrial properties across Southern California. The firm also provides full-service property and asset management, licensed leasing and brokerage, tenant improvement construction, opportunity lending for short-term real estate financings, and land entitlement services for residential lot development, managing over 1.2 million square feet of commercial property across 30 commercial properties and 12 storage businesses.

Product overview

Cardinal Development Company operates as a real estate development and property management firm specializing in self-storage and industrial properties. The company's core offerings include the Extra Storage brand (12 self-storage facilities) and Autoplex auto repair centers. Their primary business lines encompass development, operation, and management of self-storage projects, multi-tenant/single-tenant industrial properties, and single-tenant industrial buildings. Cardinal also provides full-service leasing and brokerage, property management, opportunity lending, and land entitlement services. The company manages over 1.2 million square feet of commercial property across Southern California.

Differentiator

Problem solved

Functional benefit

Brands

• Extra Storage: Self-storage facilities brand operating under Cardinal Development's portfolio of 12 storage businesses.
• Autoplex

Products and services

• Leasing and Brokerage Services Full-service leasing and brokerage services offered through Cardinal's licensed California Real Estate Broker (since 1991), covering industrial and self-storage properties. Targeted at industrial and self-storage tenants and the buyers/investors of commercial properties in Southern California.
• Self-Storage Development (Extra Storage) Ground-up development, acquisition, operation, and management of self-storage facilities under the Extra Storage brand, currently comprising 12 storage facilities throughout Southern California. Targeted at self-storage tenants and property-owning investors seeking professionally managed storage assets.
• Industrial Properties Multi-tenant and single-tenant industrial buildings owned, leased, and managed by Cardinal Development Company, currently encompassing more than 1.2 million square feet of commercial property across Los Angeles, Riverside, and Orange County. Targeted at industrial tenants, owner-occupiers, and real estate investors seeking industrial space and investment assets in Southern California.
• Property Management Services Full-service asset and property management services for self-storage and industrial properties, including property maintenance, tenant improvement construction, accounting, and financial statement preparation. Targeted at property owners and investors requiring owner-level operational oversight of self-storage and industrial assets.
• Opportunity Lending Short-term real estate loan services provided directly by Cardinal Development as an opportunity lender, with more than $10,000,000 in loans serviced over the previous five years. Targeted at real estate borrowers needing short-term or bridge capital, including those in complex transactions or foreclosure situations.
• Land Entitlement Services Services assisting partners in entitling land for residential development, including entitlement and sale of residential lots (273 lots entitled and sold across Atherton, Redhawk Golf Course, and Seraphina Road in Temecula). Targeted at residential developers and homebuilders seeking entitled land in Southern California.
• Autoplex Auto Service Centers Trademarked auto repair center concept introduced by Cardinal Development, featuring clean and convenient car service with anchor tenants including 4day Tire Stores. Targeted at automotive service customers and tenants seeking co-located retail amenities.

Quantifiable outcome

• Over $10,000,000 in loans serviced over five years
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators9 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Public Storage: Largest publicly-traded self-storage REIT in the U.S. with thousands of facilities nationwide. Comparable to Cardinal's Extra Storage brand as a self-storage operator, though vastly larger scale and geographically diversified versus Cardinal's SoCal focus.
• Extra Space Storage: Major publicly-traded self-storage REIT with thousands of locations. Directly comparable to Cardinal's self-storage operations, though operates as an institutional platform versus Cardinal's private regional operator model.
• CubeSmart: Public self-storage REIT with a national portfolio. Comparable to Cardinal as a self-storage operator with development capabilities, though with broader geographic reach and institutional capital access.
• National Storage Affiliates: Public self-storage REIT operating through participating regional operators. Directly comparable to Cardinal's self-storage operator model, though at much larger scale with multiple regional partner brands.
• Rexford Industrial Realty: Public REIT specializing in Southern California industrial properties. Comparable to Cardinal's industrial property operations and management in the same LA/Orange County/Inland Empire geography.

Direct peers

• Devon Self Storage: Private third-party self-storage management and ownership company operating properties across the U.S. Highly comparable to Cardinal as a vertically-integrated self-storage operator, though with broader geographic footprint.
• Simply Self Storage: Private self-storage operator and third-party management company with multiple facilities. Comparable to Cardinal's Extra Storage brand as a self-storage owner/operator/manager with regional concentration.
• Metro Storage LLC: Private self-storage owner-operator with facilities across multiple states. Comparable to Cardinal as a vertically-integrated self-storage operator with both owned and managed properties.
• StoreSpace: Private self-storage owner-operator and third-party management company. Comparable to Cardinal's self-storage operations as a regional/national operator with both ownership and management revenue streams.
• Compass Self Storage: Private self-storage management company operating facilities across multiple U.S. markets. Directly comparable to Cardinal's property and asset management capabilities for self-storage facilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cardinal-development

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cardinal Development Company